Michael Cohen Dallas Elder Lawyer |

11 Apr Future Success Story Of The Month? Will A QLAC Within An Ira Become The Latest Tool To Save Money In Care Costs?

Posted at 13:01h in End of Life Care Planning, Long Term Care, Medicaid Planning, Retirement, Success Story of the Month

Recent changes under the Secure Act 2.0 that became effective January 1, 2023 may make a QLAC (Qualified Longevity Annuity Contract) a planning option for long-term care Medicaid which helps pay for nursing care and care at home. A QLAC is an annuity within your retirement...

20 Aug Should You Name A Trust As A Beneficiary Of A Retirement Account?

Posted at 16:12h in Beneficiary, Retirement, Trusts

Prior to the passage of the SECURE ACT, trusts named as a beneficiary of a retirement account could be prepared to stretch distributions (for tax-deferred growth) over the lifetime of the designated beneficiary. However, unless the beneficiary is either (1) a spouse; (2) someone less...

14 Jan CHANGE IN RETIREMENT ACCOUNT LAWS AND INCREASED TAXES (SECURE ACT) LEAVES MANY BENEFICIARIES INSECURE

Posted at 19:45h in Beneficiary, Retirement

Although the SECURE Act passage last month (which became effective January 1, 2020) covered 29 new provisions, the one provision likely to cause the most impact is the removal of “stretch” inherited IRA provisions to 10 years unless the beneficiary is an eligible designated beneficiary....